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1218 Arapahoe St, Los Angeles, California 90006, Los Angeles, 90006 - bed, bath

1218 Arapahoe St, Los Angeles, California 90006 home-pic-0
ACTIVE$4,997,000
1218 Arapahoe St, Los Angeles, California 90006
0Bed
0Bath
10,314Sqft
7,250Lot
Year Built
2022
Close
-
List price
$5M
Original List price
$5M
Price/Sqft
$484
HOA
-
Days on market
-
Sold On
-
MLS number
DW25131587
Home ConditionExcellent
Features
Good View: City Lights, Hills, Neighborhood
Patio
ViewCity Lights,Hills,Neighborhood

About this home

We found 3 Cons,5 Pros. Rank: price - $5.00M(50th), sqft - 10314(50th), beds - undefined(50th), baths - undefined(50th).

1214, 1214 1/2, 1216, 1216 1/2 & 1218 Arapahoe St, Los Angeles CA 90006 Presenting a Clean Modern look 2022 NEW CONSTRUCTION 5 Unit Property. Option For Sale or Lease Don’t miss out on this Huge Discount. Priced to go. Similar Project Appraised at $5,870,000. Similar project located just 1 Street away, same builder, same Bedroom & Bathroom count, with approx. 1,553 sqft less than 1218 Arapahoe St. Sales prices gives the Buyer a great opportunity to a good amount of equity. If not buying you can Rent the whole property or rent a unit privately, where everything in the unit is private to you. There's (1) unit 7 bedrooms and 6 bathrooms, (2) units of 7 bedrooms and 7 bathrooms, (2)units of 5 bedrooms and 5 bathrooms OR you can Rent per room, where Bedroom and Bath would be private; Common spaces like Kitchen and Laundry would be shared. This project is located in a hot rental area. Location, location, location! Property has little to no maintenance; super convenient for the owner. A perfect co living investment property that when leased would bring in a Pro forma Cap rate of 7.433%. Property’s breakdown is the following: 1(FRONT, SingleFamilyResidence) Unit is 7 BED, 6 BATH. (MIDDLE Duplex-mirrored units) is 7 BED, 7 BATH X2 (REAR Duplex-mirrored units) is 5 BED, 5 BATH X2 Total of 31 Bedrooms and 30 Bathrooms All units are Quad-Level & separately metered for each utility service. This property is rare to find, making it a hot commodity! Lessee(s) and Buyer(s) to independently verify all information on this listing. Listing agent is not liable for any information that turns out incorrect. The accuracy of all information, regardless of source, including but not limited to square footages, lot sizes, income, and expenses, is deemed reliable but not guaranteed.

Nearby schools

3/10
Leo Politi Elementary School
Public,•K-5•0.2mi
3/10
Magnolia Avenue Elementary School
Public,•K-6•0.4mi
8/10
Hoover Street Elementary School
Public,•K-5•0.6mi
2/10
Tenth Street Elementary School
Public,•K-5•0.7mi
3/10
Macarthur Park Elementary School For The Visual And Performing Arts
Public,•K-5•0.7mi
/10
Mariposa-Nabi Primary Center
Public,•K-2•0.9mi
3/10
Rfk Community Schools - Ambassador School - Global Education
Public,•K-5•1.0mi
4/10
Norwood Street Elementary School
Public,•K-5•1.0mi
3/10
Los Angeles Elementary School
Public,•K-5•1.2mi
3/10
Hobart Boulevard Elementary School
Public,•K-5•1.2mi
5/10
Vermont Avenue Elementary School
Public,•K-5•1.3mi
2/10
Twenty-Fourth Street Elementary School
Public,•K-5•1.8mi
6/10
Carson-Gore Academy Of Enviornmental Studies
Public,•K-5•2.0mi
3/10
Berendo Middle School
Public,•6-8•0.5mi
3/10
John H. Liechty Middle School
Public,•6-8•1.0mi
5/10
Pio Pico Middle School
Public,•6-8•1.9mi
4/10
John Adams Middle School
Public,•6-8•1.9mi
3/10
Johnnie Cochran, Jr., Middle School
Public,•6-8•2.5mi
4/10
West Adams Preparatory High School
Public,•9-12•0.6mi
3/10
Rfk Community Schools-Ambassador-Global Leadership
Public,•6-12•1.0mi
4/10
Rfk Community Schools-Los Angeles High School Of The Arts
Public,•9-12•1.0mi
5/10
Rfk Community Schools- For The Visual Arts And Humanities
Public,•9-12•1.0mi
3/10
Belmont Senior High School
Public,•9-12•1.5mi
5/10
Santee Education Complex
Public,•9-12•1.9mi
5/10
Foshay Learning Center
Public,•K-12•2.4mi
3/10
Nava College Preparatory Academy
Public,•9-12•3.3mi

Price History

Date
Event
Price
09/30/20
Sold
$1,103,000
Condition Rating
Excellent
This property is a new construction from 2022, explicitly described as having a 'Clean Modern look'. The images confirm this with brand new, modern finishes throughout. The kitchens feature new stainless steel appliances, two-tone flat-panel cabinetry, solid surface countertops, and recessed lighting. Bathrooms are equally modern with glass-enclosed showers, contemporary tiling (subway and hexagonal mosaic), and new fixtures. Flooring is consistent LVP, and all systems are new, indicating no deferred maintenance and meeting current quality standards.
Pros & Cons

Pros

New Construction: Built in 2022, this property offers modern infrastructure, minimal immediate maintenance needs, and adherence to current building codes.
Exceptional Income Potential: Designed for a co-living model with 5 units totaling 31 bedrooms and 30 bathrooms, the property boasts a high pro forma cap rate of 7.433%, indicating strong rental income prospects.
Significant Equity Opportunity: The property is priced substantially below a comparable new construction project by the same builder ($4.997M vs. $5.87M), suggesting immediate equity for the buyer.
Strategic Rental Location: Located in Koreatown, identified as a 'hot rental area,' ensuring robust tenant demand and consistent occupancy rates.
Operational Efficiency: All units are quad-level and separately metered for each utility service, simplifying management and reducing landlord-borne utility costs.

Cons

High Capital Requirement: The nearly $5 million list price represents a substantial upfront investment, potentially limiting the pool of eligible buyers.
Intensive Management Demands: Operating a 5-unit, 31-bedroom co-living property requires significant ongoing management effort, including tenant sourcing, lease administration, and maintenance coordination for numerous occupants.
Niche Market Appeal: The property's design and explicit co-living model cater to a specific rental market, which might limit its resale appeal to investors outside this niche or increase vacancy risk if co-living demand fluctuates.

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